Putin Says Energy Prices Approaching 'Economically Justified' Levels

Russian President Vladimir Putin said on Wednesday that energy prices were approaching “economically justified” levels, and that Russia was continuing to meet its commitments on energy supplies.

Speaking at a conference of the Russian-led Eurasian Economic Union in Moscow, Putin also raised the issue of energy shortages in Europe.

“Now, thank God, energy prices are approaching an economically justified level, but who is to blame for what had happened?” he said, speaking in front of the leaders of Belarus, Kazakhstan and Kyrgyzstan.

“They blew up Nord Stream 1, didn’t start Nord Stream 2,” he said, referring to the twin gas pipelines from Russia across the Baltic Sea to Germany that were severely damaged by explosions last September.

Russia, without providing evidence, has repeatedly said the West was behind the blasts. Investigators from Sweden and Denmark - in whose exclusive economic zones the explosions occurred - have said the ruptures were a result of sabotage, but have not said who they believe was responsible.

(Reuters, May 24, 2023)

EVENTS 3rd Tirana Energy Forum 15th South East Europe Energy Dialogue 1st Greek-Turkish Energy Forum Decarbonization Policies in South East Europe – between climate change and war

ADVISORY SERVICES Green Bonds

PUBLICATIONS The Greek Energy Sector 2023 South East Europe Energy Outlook 2021/2022 Long-Term Gas Contracting Terms, definitions, pricing - Therory and practice More

COOPERATING ORGANISATIONS IEA Energy Institute Energy Community Eurelectric Eurogas Energy Management Institute BBSPA AERS ROEC BPIE